Wednesday, July 22, 2009

"U.S. President Barack Obama shifts his effort to convince the American people healthcare reform is the right thing to do right now to prime time Wednesday.

"In an evening news conference, Obama is expected to outline the case for healthcare reform as well as provide an update on what has been accomplished since he took office in January.

"White House Chief of Staff Rahm Emanuel told The New York Times Obama intends to use the news conference as a "six-month report card," to talk about "how we rescued the economy from the worst recession" and the legislative agenda moving forward, including health care and energy legislation." [emphasis is mine]

The very first thing that popped in my mind when I read this was the famous words by the former Vice President Al Gore (now the owner of Chicago Climate Exchange):

Many people say that we should be patient, the president is new to the job (isn't every one who is elected for the first time?), he inherited the mess from the previous administration, etc. etc. etc., ad nauseam.

Why should we be patient? This administration came up with 1,000-plus page stimulus package in February, 1300-page climate bill in June, and 1000-page health care bill in July. I don't think they are the rookies' job, just by the sheer size of those bills. In between, they bankrupted two of the three US auto makers without Congressional oversight, poured more US soldiers in Afghanistan, set up a "shadow" government with "czars" who are answerable to the President only, and pushing for a drastic financial regulatory overhaul with the Federal Reserve at the head when the growing number of Americans want to audit the Fed and even abolish the Fed.

The administration is waging a blitzkrieg while they can get away with it - i.e. during the first few months of the new administration when people are still hopeful, and patient. But once those bills pass, there won't be any reversal. We will be stuck with them. We should scrutinize every single thing that they do from the day one. We should have, but we didn't.

About my coverage of Japan Earthquake of March 11

I am Japanese, and I not only read Japanese news sources for information on earthquake and the Fukushima Nuke Plant but also watch press conferences via the Internet when I can and summarize my findings, adding my observations.

About This Site

Well, this was, until March 11, 2011. Now it is taken over by the events in Japan, first earthquake and tsunami but quickly by the nuke reactor accident. It continues to be a one-person (me) blog, and I haven't even managed to update the sidebars after 5 months... Thanks for coming, spread the word.------------------This is an aggregator site of blogs coming out of SKF (double-short financials ETF) message board at Yahoo.

Along with commentary on day's financial news, it also provides links to the sites with financial and economic news, market data, stock technical analysis, and other relevant information that could potentially affect the financial markets and beyond.

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